Deere & Company (NYSE:DE) Shares Acquired by Pathway Financial Advisers LLC

Pathway Financial Advisers LLC raised its holdings in shares of Deere & Company (NYSE:DE) by 53,338.6% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 854,484 shares of the industrial products company’s stock after acquiring an additional 852,885 shares during the quarter. Deere & Company makes up 3.5% of Pathway Financial Advisers LLC’s investment portfolio, making the stock its 8th biggest holding. Pathway Financial Advisers LLC’s holdings in Deere & Company were worth $356,602,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. Oppenheimer Asset Management Inc. boosted its stake in Deere & Company by 20.5% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 15,808 shares of the industrial products company’s stock worth $5,906,000 after purchasing an additional 2,692 shares during the period. Royal Fund Management LLC boosted its stake in Deere & Company by 99.8% during the 3rd quarter. Royal Fund Management LLC now owns 6,454 shares of the industrial products company’s stock worth $2,694,000 after purchasing an additional 3,223 shares during the period. New Century Financial Group LLC acquired a new stake in Deere & Company during the 3rd quarter worth $1,052,000. Manning & Napier Advisors LLC acquired a new stake in Deere & Company during the 2nd quarter worth approximately $24,984,000. Finally, Handelsbanken Fonder AB increased its holdings in shares of Deere & Company by 2.2% in the third quarter. Handelsbanken Fonder AB now owns 90,871 shares of the industrial products company’s stock valued at $37,923,000 after purchasing an additional 1,963 shares during the period. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Price Performance

Deere & Company stock opened at $406.04 on Wednesday. The firm has a fifty day moving average of $399.35 and a 200-day moving average of $385.23. Deere & Company has a 52-week low of $340.20 and a 52-week high of $420.47. The firm has a market capitalization of $111.89 billion, a P/E ratio of 12.22, a PEG ratio of 1.35 and a beta of 0.92. The company has a quick ratio of 1.87, a current ratio of 2.07 and a debt-to-equity ratio of 1.85.

Deere & Company (NYSE:DE) last announced its quarterly earnings data on Thursday, August 15th. The industrial products company reported $6.29 earnings per share for the quarter, beating analysts’ consensus estimates of $5.63 by $0.66. Deere & Company had a net margin of 14.69% and a return on equity of 36.71%. The business had revenue of $11.39 billion during the quarter, compared to the consensus estimate of $10.94 billion. During the same quarter in the prior year, the firm earned $10.20 EPS. The company’s revenue for the quarter was down 20.3% compared to the same quarter last year. As a group, analysts predict that Deere & Company will post 25.03 EPS for the current year.

Deere & Company Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Monday, September 30th will be given a $1.47 dividend. This represents a $5.88 annualized dividend and a yield of 1.45%. The ex-dividend date is Monday, September 30th. Deere & Company’s dividend payout ratio (DPR) is 17.70%.

Analysts Set New Price Targets

Several brokerages recently weighed in on DE. Truist Financial increased their price target on Deere & Company from $443.00 to $496.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Morgan Stanley lowered their target price on shares of Deere & Company from $450.00 to $425.00 and set an “overweight” rating on the stock in a report on Monday, August 26th. Oppenheimer cut their price target on shares of Deere & Company from $465.00 to $448.00 and set an “outperform” rating for the company in a report on Monday, July 22nd. HSBC lowered Deere & Company from a “buy” rating to a “hold” rating in a report on Monday, August 19th. Finally, Citigroup raised their price target on Deere & Company from $395.00 to $420.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. Twelve equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $420.69.

About Deere & Company

Deere & Company engages in the manufacture and distribution of various equipment worldwide. The company operates through four segments: Production and Precision Agriculture, Small Agriculture and Turf, Construction and Forestry, and Financial Services. The Production and Precision Agriculture segment provides large and medium tractors, combines, cotton pickers and strippers, sugarcane harvesters and loaders, harvesting front-end equipment, pull-behind scrapers, and tillage and seeding equipment, as well as application equipment, including sprayers and nutrient management, and soil preparation machinery for grain growers.